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Thursday, September 29, 2022

Hotels: Occupancy Rate Down 1.5% Compared to Same Week in 2019

by Calculated Risk on 9/29/2022 11:51:00 AM

Note: The occupancy rate will increase next week due to Hurricane Ian.

U.S. hotel performance increased from the previous week and showed improved comparisons with 2019, according to STR‘s latest data through Sept. 24.

Sept. 18-24, 2022 (percentage change from comparable week in 2019*):

Occupancy: 70.0% (-1.5%)
• Average daily rate (ADR): $157.99 (+15.7%)
• Revenue per available room (RevPAR): $110.60 (+13.9%)

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.

Hotel Occupancy RateClick on graph for larger image.

The red line is for 2022, black is 2020, blue is the median, and dashed light blue is for 2021.  Dashed purple is 2019 (STR is comparing to a strong year for hotels).

The 4-week average of the occupancy rate is above the median rate for the previous 20 years (Blue).

Note: Y-axis doesn't start at zero to better show the seasonal change.

The 4-week average of the occupancy rate will increase during the Fall business travel period, and then decline into the Winter.